Netflix NFLX gained 2 million video-streaming subscribers in the U.S. during the fourth quarter, and posted a profit of $8 million during a period when analysts were expecting a loss. The stock jumped more than 35% in after-hours trading following the release of the results on Wednesday. Netflix said it expects its video streaming service to pick up 1.35 million to 2.1 million subscribers in the U.S. during the first quarter ending in March. Netflix also said it expects to break even or report another profit during the quarter. Netflix earned $8 million, or 13 cents a share, in the fourth quarter, down 78% from a year earlier, but analysts were calling for a loss of 12 cents a share because of expenses for expansion and licensing. Last year, the company earned $35 million, or 64 cents a share. Netflix said revenue rose in the fourth quarter to $945 million, up from year-earlier revenue of $876 million, and above analysts' views.
Software giant Microsoft MSFT is expected by analysts Thursday to report fiscal second-quarter earnings of 75 cents a share on revenue of $21.6 billion.
3M MMM is expected by analysts Thursday to post fourth-quarter earnings of $1.41 a share on revenue of $7.18 billion. 5 Cash-Rich Stocks to Buy in 2013
Wall Street expects defense contractor Lockheed Martin LMT to post earnings of $1.82 a share in the fourth quarter on revenue of $11.16 billion. Yahoo, Trust and the Talent Shortage
Shipping giant UPS UPS is expected by analysts Thursday to post quarterly earnings of $1.38 a share on revenue of $14.44 billion.
Delta DAL is talking to Airbus and Boeing BA about buying $1 billion or more of new jets as planemakers phase out their current single-aisle models, people familiar with the matter told Bloomberg.
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